For instance, this city is anticipated to have a 40 percent growth in the job market over the next decade. You havent lived until youve tasted the irresistible temptation that is vinegar barbecue, its life-changing. It's somewhat of a hobby, and we want to share what we've learned with you. This is considered southern etiquette and folks are keen to teach their children manners. More so, to celebrate their states rich and abundant history, North Carolina actively funds and looks after the many museums and historical sites in the state. Besides housing, the state also offers comparatively cheaper food options than other states like New York State or Washington State. Pros & Cons of Living in Asheville North Carolina. But thats not all there is to this wonder.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[336,280],'retirefearless_com-medrectangle-4','ezslot_6',109,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-medrectangle-4-0'); North Carolina has some majestic views, temperate weather, lower-than-average cost of living, above-average healthcare, and a welcoming population. A cost of living index above 100 means North Carolina, North Carolina is more expensive. While the cost of living in North Carolina is relatively low, the state does have higher taxes than some other US states. North Carolinas total state and average local sales tax rate is 6.98%. Today, we're going to highlight 7 of the best places to retire in North Carolina. Theyre non-negotiable in my book because they prevent things from molding overnight. According to How Stuff Works, "the average cost of living for a retired couple in South Carolina is about $37,000 a year," which is significantly lower than many other states in the US. Residents could spend years exploring the state's caverns, gorges, and state parks, but retirees will need to plan their excursions for the summer months before the . With over 300 miles of beaches, you are sure to find one you love. North Carolina is home to the Smoky Mountains and the Blue Ridge Mountains. That data found the median monthly mortgage cost was $1,314, and the median two-bedroom rent was $878. 201-447-2212 171 E. Ridgewood Ave. Suite 205 Ridgewood, NJ 07450 Here's What You Need to Know. Charlotte. The moderate temperatures mean that the outdoors can be enjoyed year-round, keeping retirees active and engaged. If youre new to North Carolina, allow me to fill you in. Although the cost of senior living may seem daunting at first, a second glance may reveal something different. Miles of sandy shoreline mark the spot where our lovely state ends and the Atlantic Ocean begins. The. The good thing is that they are more than willing to welcome newcomers with open arms. Summers in North Carolina are the worst. However, European countries had beforehand . The state has a moderate climate while still offering four distinct seasons. Consider how much of your income is spent monthly on food, utilities, healthcare, house maintenance, and homeownership costs. The rolling landscape is dotted with lakes and reservoirs. Property taxes vary from county and municipality. North Carolina has become a popular retirement destination as the state has grown, providing an alternative to extreme-heat states like Florida and Arizona. Cons of Retiring in North Carolina Threat of hurricanes. If youre moving to North Carolina with the hopes of escaping the grind and bustle of daily living, youll find reprieve. The fact is that every place you consider moving to will have its benefits and pitfalls; you will have to decide the factors that are important to you and the ones youre willing to look past. If youre considering retiring in North Carolina but still require some convincing, Ive lined up more than a few reasons to help you make a decision.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[336,280],'retirefearless_com-banner-1','ezslot_8',112,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-banner-1-0'); If youve spent most of your life living and working in a metropolitan city, the best thing about retirement is the opportunity to pack up your life and move to a quiet place with majestic views. Even though this isnt true for the entire state, the most populous places do experience a fairly temperate climate. North Carolina has a diverse range of weather and climate, depending on which region you retire to. However, it does so at a reduced rate, with almost 2% on most food. North Carolina does have a state income tax, which can be unappealing to some retirees and sets it back from a financial perspective from popular retirement states like Florida, which doesnt have tax income at all. According to an article from Tax Foundation, the spending power of $100 in North Carolina is equal to $109.53. Contact us today to get started. The Biltmore Estate near Asheville stuns visitors with its beautifully designed 250 rooms and sprawling grounds. District of Columbia costs $2,324 to rent. isnt one of the easiest states to find work, 16 HONEST Pros & Cons of Living in Georgia (Lets Talk), 12 HONEST Pros & Cons of Living in Minneapolis, 15 HONEST Pros & Cons of Living in Charlotte, North Carolina, Property taxes: 0.84%, well below the national average, Access to the mountains (alright, hills) and the beach. This includes looking into hospitals, clinics, and doctors in the area. Lamia Chowdhury is a financial content editor for RetireGuide and has over three years of marketing experience in the finance industry. One option that stands out is Hendersonville. If youre more interested in a small-town retirement, the U.S. News & World Report also pointed to Hickory as an option, which is opposite from Charlotte. There are plenty of opportunities for retirees to pursue academic study at the many universities located around the State. Regardless of your preference, know this: you cant go wrong but you better learn to defend it. Most weekends can be spend hiking, biking, fishing, swimming or hunting. The states property tax rate stands at 0.77%, which means that a homeowner has to pay around $770 every year for every $100,000 in home value. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'retirefearless_com-mobile-leaderboard-1','ezslot_16',134,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-mobile-leaderboard-1-0');The hurricane season hits North Carolina from June to November. Living in Pennsylvania . While the people whove been living here for a long are prepared for these types of disasters, those who are unprepared can often be severely injured or embrace mortality due to touching downed wires or getting swept up in flood. Its important to remember that Original Medicare is essentially the same in every state since it is a federal program. Considering the states population and big cities, North Carolina has an affordable cost of living for many retirees. The coastal areas are milder, with average temperatures in the 60s and 70s. in advertising from the University of Illinois, Alissa has worked all over the world as a freelance communications strategist and writer. North Carolina is certainly an interesting state. So heads up! No matter which sport you love, North Carolina has it. However, although higher than the national average, the murder rate in North Carolina is much lower than in South Carolina. in the state is 5.8 per 100,000, 10% higher than the national average. In some places, such as Durham County, you may even have to pay sales tax at the rate of 7.50%. The similarities end with the choice of meat (both use pork), from there the methods differ. Resorts are spread throughout the mountains and many are open for skiing in the winter and hiking in the summer. Pros and Cons of Retiring in South Carolina The advantages of retiring in South Carolina include an affordable lifestyle where your money can go much farther than in many other parts of the country. NC isnt the worst state for retirees when it comes to income taxes, but it isnt the best either. We are a publishing team of licensed Nursing Home Administrators, Nurses, Assisted Living Directors, and individuals with vast personal experience with retirement communities and senior living. North Carolina is home to a thriving arts and culture scene. Cmon now, my grubby little hands will never squeal! Overall, the cost of living in North Carolina comes in 5 points below the national average. Sorry there is a continuing error in our system. Christian Simmons is a writer for RetireGuide and a member of the Association for Financial Counseling & Planning Education (AFCPE). The state experiences all four seasons, with hot summers and cold winters in the mountains. North Carolina compensates for its affordable cost of living by putting a significant tax burden on its citizens. RetireGuide.com, 20 Feb 2023, https://www.retireguide.com/retirement-life-leisure/best-and-worst-states-to-retire/north-carolina/. . If you need help pricing and building your medicare plan, call us at 844-572-0696. As a mid-sized city of around 275,000 residents, Durham has all the excitement . A recent study by MIT found that a single adult (without kids) needs to make a minimum of $31,660 per year to live in North Carolina. Reidsville. For instance, with the highest average rent in the United States, a one-bedroom apartment in the District of Columbia costs $2,324 to rent.So, if you move to North Carolina, youll be saving quite a bit on your monthly cost. In fact, Virginia was colonized almost sixty years before South Carolina was. The state's income tax rate is 4.99% in 2022, but the state updated its income tax schedule for the next seven years. If we talk about numbers then, South Carolina is a clear winner as the people here pay 0.56% of their home's market value, and also people above 65 years of age get a deduction of about $50K. Thats lower than every bordering state except Tennessee. The state has coastlines, mountains, and distinct regions that offer a variety of activities for retirees. While those certainly exist, there are also major cities that could make for a fun and active retirement lifestyle. Roxboro. The state is home to some of the best hospitals in the country, including Duke University Hospital and Wake Forest Baptist Medical Center. Five-star service. In addition, Social Security income is not taxed, and income taxes have been lowered to a flat rate, to 4.9% in 2022. The summers are good for the beach, while winters are good for skiing in the mountains. Your email address will not be published. MLA Although North Carolina's crime rate is lower than the national average, some areas of the state still have higher crime rates. The Friendly Community Feeling #6. Most of all, retirees with eyes on West Virginia must weigh the pros and cons of rural living. Its a major area and feels like it as its the most populous city in the state. The state averages homeowners pay 0.85% of property value. And its true, with median home prices coming in at $330,000, many folks end up moving to North Carolina to fulfill their lifelong dream of owning a home (myself included). The Appalachian Mountains run through western North Carolina, providing ample hiking, camping, and fishing opportunities. All this to say, both the outdoor recreation and road trip possibilities are endless while living in North Carolina. Its true, but this point warrants a deeper dive. Partner the intense heat with the constant humidity and youll be begging for a shower before pulling out of the driveway. Best North Carolina Beaches. Housing, utilities, and transportation costs all fall below the national average while groceries and health care fall slightly above the national average. North Carolina may be most known for its scenic mountain ranges, but it also has plenty of beach options with 322 miles of coastline. Get instant access to our latest in-depth guides covering important retirement topics. Thats a similar level of cost of living for states like Wyoming or Wisconsin, and significantly lower than most of the states that make up the Northeast, Midwest and West Coast. The cost of living in North Carolina is relatively low compared to other US states. So Ive told you home much I enjoy the mild winters after moving to North Carolina, but Id be doing you a disservice if I didnt mention the blistering hot summers. Fuel costs are also cheaper than the rest of the country, sometimes by as much as $0.50 per gallon. The Southern states have seen massive growth recently, with the region becoming one of Read More, These Markets Are Projected to Have the Most Home Price Change in 2023. This climate diversity means that there's something for everyone regarding retiree weather. State Individual Income Tax Rates and Brackets for 2020. If youre a history enthusiast, you can explore the many museums at Beaufort or Cape Fear and get lost in the centuries of history.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'retirefearless_com-leader-1','ezslot_14',114,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-leader-1-0'); The true reality of a state can often be judged through its people, and if thats the case, then North Carolina truly is the most charming state in the US. The parkway is a total of 469 miles and is world-renowned for its biodiversity featuring extremely rare habitats. Fall and spring are a good time to enjoy scenic views of the outdoors. Black Mountain. Forest City. Speaking from personal experience, one of the best things about living in North Carolina is actually being able to enjoy life without feeling the pinch of irrational rent prices and overall high cost of living. Over the years we've found the best ways to live, how to travel, take on new hobbies and give back. While many of these trials are for hikers, you can also easily come across some excellent trails where you can enjoy horse riding or mountain biking.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'retirefearless_com-large-mobile-banner-2','ezslot_9',145,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-large-mobile-banner-2-0'); One of the most popular trails in the state is the Appalachian Trail. North Carolina is home to several historical sites, including battlefields from the Civil War, the Thomas Wolfe Memorial, the first documented gold find in the U.S., and the Battleship USS North Carolina. In some places, such as Durham County, you may even have to pay sales tax at the rate of 7.50%. Property tax rates are moderately high in North Carolina, but there is a senior discount that is quite significant. 2023 Retire Fearless. Much of determining where to retire may come down to researching where your money will spend the best. Retirefearless.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon. Either way, since most seniors seek to build a home in a place with moderate weather, North Carolina is an excellent choice or at least a much better choice than Florida or New York. Residents can claim a $3,000 deduction if they are under 65 or $15,000 if they are over 65, making it exceptionally welcoming for senior citizens who are receiving income from sources other than social security. This can be attributed to a number of factors, including a lack of providers, transportation issues, and a lack of insurance. Proximity to Everything You Need; Cons of Moving to Asheville, NC #1. These same mountains include fishing, boating, whitewater rafting, and rock climbing. What more could you want in a new community? Since they live in a gorgeous state, youll find most people casually walking around looking happy and enjoying life. Social Security is not taxed, but 401(k) and pension distributions are. Williamston. North Carolinas Medicare quality ranking reflects the availability and effectiveness of Medicare Advantage plans in the state, which are sold privately and are available regionally. Contents1 Is it cheaper to live in SC [] But dont just take my word for it, with an unemployment rate sitting at 3.8%, North Carolina isnt one of the easiest states to find work. For instance, if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[336,280],'retirefearless_com-large-leaderboard-2','ezslot_15',113,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-large-leaderboard-2-0');Duke University Hospital is among the best in the country. You will need to invest in a car to get the most out of living in North Carolina. Pros of retiring in North Carolina Beautiful scenery Diversity in locations Low cost of living And the state has the added benefit of generally affordable housing and a low cost of living, even within the cities. For instance, Duke University Hospital is among the best in the country. During this time of the year, you must be very careful and mindful in case the state authorities issue any alerts. RetireGuide doesnt believe in selling customer information. As the younger population flocks to the more happening and exciting states, they often miss out on the beauty that is NC. The state offers various outdoor activities Whether you enjoy hiking, biking, fishing, or camping, North Carolina has plenty of outdoor activities to keep you busy. Your web browser is no longer supported by Microsoft. The Outer Banks' positioning on the east coast makes them more susceptible to direct hits or brushes from tropical storms that ride up the East Coast. I knew that living in North Carolina would require becoming acquainted with a humid sub-tropical climate, but even after 12 years I still cant get used to it. I think this is a normal human reaction to outsiders, but it takes a little while for folks to warm up and to make genuine friends after moving to North Carolina. 4.3. Likewise, rain is not uncommon during the summer months. We appreciate your feedback. Pros And Cons Of South Carolina. Florida and Arizona may be the most popular spots, but they are paired with extreme heat, virtually nonexistent seasons and are as far away as can be from the Northeast or Midwest where many retirees come from. Charlotte, Raleigh, Durham, Morehead City, and Asheville had higher housing costs than New Bern, Fayetteville, Greensboro, and Jacksonville. Before moving to North Carolina I found myself living in Chicago, where I braced for winters with the enthusiasm reserved for water-downed cocktails and malfunctioning alarm clocks. If you're considering retiring to North Carolina, it's important to research the health care options in the area you plan to live. Get money-saving tips, hard-to-find info and tactics for a successful retirement in our free weekly newsletter. You will need to invest in a car to get the most out of living in North Carolina. "North Carolina Retirement." North Carolina is making headlines as an up and coming place to retire, even earning some retirees moving there the nickname, halfbacks as retirees from Florida move halfway back home to the mid-Atlantic and mid-South states. Posted by Preston Guyton on Friday, September 30, 2022 at 10:07 AM By Preston Guyton / September 30, 2022 Comment When you think "retirement destination," North Carolina may not be top of mind. The average cost of living was $38,295. You can just as easily find a charming apartment in the city or a farmstead, if you so choose. Retrieved March 4, 2023, from https://www.retireguide.com/retirement-life-leisure/best-and-worst-states-to-retire/north-carolina/. In fact, there's a large contingent of residents called "half-backs," who spend winters in Florida and summers in the Carolina mountains. Poverty is seen as a significant contributor to the relatively higher crime rate in the state. . In cities such as Charlotte or Raleigh, temperatures during winters rarely drop lower than 35 F. North Carolinas summers are also temperature, even though the temperatures do rise above 90F at times. We can be reached via email at contact@retirefearless.com. With some of the countrys best university medical centers in the country, fortunately, North Carolina delivers well in this regard. North Carolina is generally an affordable state. 1.4 million of the states residents live in poverty, making NC the state with the 15th highest poverty rate. Were you able to find the information you were looking for on RetireGuide.com? Here's what you need to know about the state before you make your move. Marion. You never know when the threat will come to fruition so youll want to be prepared. However, the state has some potential downsides to retiring that you should be aware of before moving to North Carolina. Seriously, Ive had days where the temperature soars to 80F by 8am (I mean, what the heck?). Asheville is the #1 retirement town in the U.S. As a result the entire region has experienced rapid growth as tens of thousands of retirees have migrated to these mountains in western North Carolina. South Carolina Low Cost of Living. In July of 1933, the North Carolina State Legislature formed the EBNC. Posted by Preston Guyton on March 3, 2023 . Social Security Income is exempt.
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